Marriott International Reports Third Quarter 2015 Results (United States)
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Marriott International Reports Third Quarter 2015 Results (United States)
Highlights : |
Category: North America & West Indies / Carribean islands - United States - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2015-10-30
- Third quarter diluted EPS totaled $0.78, a 20 percent increase over prior year results;
- On a constant dollar basis, worldwide comparable systemwide RevPAR rose 4.5 percent in the third quarter;
- North American comparable systemwide constant dollar RevPAR rose 4.2 percent in the third quarter;
- Marriott repurchased 9.8 million shares of the company’s common stock for $702 million during the third quarter. Year-to-date through October 28, the company repurchased 25.1 million shares for $1.9 billion;
- The company added over 10,000 rooms during the third quarter, including roughly 3,800 rooms in markets outside the U.S. and nearly 2,000 rooms converted from competitor brands;
- At the end of the third quarter, the company’s worldwide development pipeline increased to more than 260,000 rooms, including roughly 20,000 rooms approved, but not yet subject to signed contracts;
- The company’s adjusted operating income margin increased to 49 percent compared to 43 percent in the year-ago quarter;
- Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $431 million in the quarter, a 10 percent increase over third quarter 2014 adjusted EBITDA.
Marriott International, Inc. (NASDAQ: MAR) today reported third quarter 2015 results.
Third quarter 2015 net income totaled $210 million, a 9 percent increase over 2014 third quarter net income. Diluted earnings per share (EPS) in the third quarter totaled $0.78, a 20 percent increase from diluted EPS in the year-ago quarter. On July 29, 2015, the company forecasted third quarter diluted EPS of $0.72 to $0.76.
Arne M. Sorenson, president and chief executive officer of Marriott International, said, “Our company posted solid performance in the third quarter. North American systemwide RevPAR rose over 4 percent despite the impact of unfavorable holiday shifts on our group business compared to the year-ago quarter. Our hotels are full with occupancy at nearly 78 percent allowing us to continue to raise rates and reduce lower-rated business to drive RevPAR.
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